What is IL&FS ? IL&FS stands for Infrastructure Leasing & Financial Services Limited. It is an infrastructure finance company with a pan-India presence. It operates through more than 250 subsidiaries. The IL&FS Ltd. was founded in the year 1987 to fund infrastructure projects. The major shareholders of IL&FS are as follows- LIC- 25.3 % RBI-7.67% SBI-6.42% …
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The Reserve Bank of India had a 9-hour board meeting with the Government of India on 19th November. They discussed multiple issues in the meeting. The key decisions taken by the board were: It has been decided to constitute an expert committee to review the economic capital framework of the Reserve Bank of India. The membership …
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India and Japan signed a $75 billion bilateral currency swap agreement in October 2018. India and Japan have signed similar agreements in the past as well, but this is the largest bilateral arrangement of this kind in the world. A bilateral currency swap agreement is an exchange of currencies between two countries As per this …
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The Real Estate (Regulation and Development) Act of 2016 (also known as RERA Act) was enacted to regulate the real estate sector in India. The Act was passed in 2016 & it came into force in May 2017. RERA Act is actually a model Act passed by the Central Government. Each state has to notify its own …
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On 4th July, the Narendra Modi Government announced substantial increases in the Minimum Support Price (MSP) for Kharif crops. This hike was promised in the Union Budget 2018. As per the Union Budget, the MSP of the Kharif crops was fixed at 1.5 times the estimated cost of production. The recent announcement by the Government is supposed …
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On 23rd May 2018, the Union Cabinet approved an ordinance to amend the Insolvency & Bankruptcy code (IBC), 2016. The ordinance will come into force on 23rd November 2018. (Read: The ultimate guide to understanding the insolvency & Bankruptcy Code) This is the second ordinance to make changes to the IBC code. The first ordinance …
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Rupee Falls to Record Low; Touches 69.09 against US Dollars On 28th June 2018, the rupee hit an all-time low of 69.09 against the US Dollar. It is expected to depreciate even more. The rupee’s last record low was hit on 24th November 2016 at 68.87 against US Dollars. The currency has fallen about 7.5 …
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